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5 Written questions

5 Matching questions

  1. All wages are subject to the Medicare tax at a rate of ___% each for both employees and employers.
  2. Controls
  3. Employee's Withholding Allowance Certificate
  4. In balance
  5. Disbursements are distributed to
  1. a The state in which the total ending balances of patient ledgers equals the tatal of accounts receivable.
  2. b Auto expenses, dues and meetings, equipment, insurance, medical supplies, office expenses, printing, postage and, stationary, rent and maintenance, salaries, taxes and licenses, travel and entertainment, utilities, miscellaneous, personal withdrawals.
  3. c A standard of comparison to make sure answers obtained are accurate.
  4. d Form W-4
  5. e 1.45%

5 Multiple choice questions

  1. The entire property of a person, association, corporation, or estate applicable or subject to the payment of debts.
  2. Assets = Liabilities + Proprietorship (Capital)
  3. monthly and annually
  4. single-entry system, double-entry system, and pegboard (write-it-once) system
  5. Enter all charges and receipts immediately in the daily record or journal. Post all cahrges and receipts to the patient ledger daily. Do not erase, write over, or blot out figures.

5 True/False questions

  1. Accounts receivable ledgerA method of determining that the journal and the ledger are in balance.


  2. Cash basis of accountingMethod of accounting in which income is recorded when earned and expenses are recorded when incurred.


  3. The best way to begin a budget is to look at the expenses from theprevious year


  4. CheckbookReceipts usually are deposited in the ckecking account, and a record of the deposit is entered in the journal and on the check register.


  5. The amount of taxes to withheld is based onsingle-entry system, double-entry system, and pegboard (write-it-once) system